TELSTRA CORPORATION ACT 1991 - SECT 3A Merging entities; merged entity; merger day

TELSTRA CORPORATION ACT 1991 - SECT 3A

  (1)   For the purposes of this Act:

  (a)   Telecom and OTC are a set of merging entities; and

  (b)   Telstra is the merged entity in relation to that set; and

  (c)   the succession day is the merger day in relation to that set and that merged entity.

  (2)   Subject to subsection   (3), the regulations may declare that, for the purposes of this Act:

  (a)   2 or more specified entities are a set of merging entities; and

  (b)   a specified entity (being one of those entities or a different entity) is the merged entity in relation to that set; and

  (c)   a specified day that is:

  (i)   on or after the day on which the regulation making the declaration takes effect; and

  (ii)   after the succession day, but not more than 12 months after that day;

    is the merger day in relation to that set and that merged entity.

  (3)   A set of merging entities that is specified in a declaration under subsection   (2) must:

  (a)   consist of:

  (i)   at least one entity that, immediately before the succession day, was a wholly - owned subsidiary of Telecom; and

  (ii)   at least one entity that, immediately before that day, was a wholly - owned subsidiary of OTC; or

  (b)   consist of Telstra and at least one entity that, immediately before the succession day, was a wholly - owned subsidiary of Telecom or of OTC.

  (4)   The regulations may make 2 or more different declarations under subsection   (2).

  (5)   Subject to subsection   (3), but without limiting the generality of subsection   (2), a set of merging entities may include the merged entity in relation to another set of merging entities.

  (6)   Regulations may be made for the purposes of subsection   (2) at any time before the end of the 12 months beginning on the succession day, but not later.